Cyrela Brazil Realty, a leading force in Brazilian real estate, has announced impressive results for the third quarter of 2024. The company experienced significant growth in key metrics, with a General Sales Value (VGV) for new launches reaching R$ 3.1 billion ($563 million), a 44% increase from the previous year, driven by the introduction of 15 new projects.
Contracted sales also saw a substantial uptick, reaching R$ 3.2 billion, a 41% rise compared to the same period in 2023. Cyrela’s sales velocity improved to 54.9%, reflecting strong market positioning and effective sales strategies.
In line with positive trends in the Brazilian real estate sector, other major players like MRV reported similar growth, highlighting Cyrela’s strong showing. Financial analysts from Safra project an increase in Cyrela’s Return on Equity (ROE) to 17.5% in 2024.
Despite economic uncertainties and potential challenges in the real estate market, Cyrela’s performance and strategic positioning suggest it is well-equipped to navigate and capitalize on future opportunities, showcasing its commitment to shareholder returns with dividends distributed in April 2024 and December 2023.